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Mustang Resources Ltd (ASX:MUS) Drilling Intersects High-Grade Graphite and Vanadium at Caula Project in Mozambique

March 15, 2018, 5:16 pm
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Mustang Resources Ltd (ASX:MUS) (OTCMKTS:GGPLF) is pleased to announce good drilling results from its Caula Graphite and Vanadium Project in Mozambique.

Key Points

- High-grade results over extensive widths from the latest diamond drilling program at Caula Graphite and Vanadium project (Licence 6678L)

- Assays show grades of up to 24.2% Total Graphitic Carbon (TGC) and 1.02% Vanadium (V2O5)

- Results from 1m composite samples include:

o 125m (from 17m downhole) at 14.1% TGC average (incl. multiple intersections from 23 to 24% TGC); including

-- 96 m downhole at 24.2% TGC

-- 52 m downhole at 23.9% TGC

o 125m at (from 17m downhole) at 0.42% V2O5 average (incl. multiple intersections from 0.7% to 1.02% V2O5); including

-- 74m downhole at 1.02% V2O5

-- 71m and 75m downhole at 0.98% V2O5

- Caula being established as one of the world's highest-grade graphite and vanadium projects

- New strategy focused on fast-tracking a dual graphite and vanadium development to deliver first cashflow in H1 2019

- Vanadium assay results to be included in an updated graphite and vanadium development strategy announcement

Using diamond core drilling, Mustang drilled MODD014 in close proximity to the previous five holes drilled in 2016 (see Figure 1 in link below). Assay results from MODD014 include outstanding intersections up to 24% TGC and 1.02% V2O5 with an average grade of 14% TGC and 0.42% V2O5 over 125m from 17m downhole including:

- 96 m downhole at 24.2% TGC

- 52 m downhole at 23.9% TGC

- 74m downhole at 1.02 % V2O5

- 71m and 75m downhole at 0.98 % V2O5

Mustang Resources Managing Director Dr Bernard Olivier said the latest results would strengthen the impending Resource upgrade at Caula.

"Caula goes from strength to strength, as these new results show," Dr Olivier said. "We have very high graphite grades, substantial widths and a very significant proportion of large and jumbo flake sizes.

"Now, in addition to the outstanding graphite mineralisation, we are establishing the presence of substantial vanadium mineralisation.

"We look forward to updating the graphite Resource and including a maiden Resource estimate for the vanadium.

"This will in turn form part of the Concept Study now underway at Caula."

Diamond Hole MODD014 Assay Results

Based on the sampling completed on the DD samples in 2017, drill hole MODD014 on licence 6678L has an average of 14% TGC within a 125m (from 17m to 143m) mineralised graphitic zone (downhole width). A total of 65 samples returned results above 15% TGC including high grade zones of 18m at 19.03% TGC from 86m to 104m (downhole depths) and 11m at 17.28% TGC from 44m to 55m (downhole depths; as seen in Appendix 2 in link below). These results confirm the high-grade nature of the Caula deposit and establishes the project in the top quartile high-grade large flake graphite deposits globally. Importantly, the graphite mineralisation is shallow with high grades close to the surface, including 19% TGC at 17m. The highest TGC value recorded for this hole is 24.2% TGC at 96m below surface.

Based on the sampling completed on the DD samples in 2017, drill hole MODD014 (seen in Figure 4 in link below) on licence 6678L, has an average vanadium pentoxide (V2O5) grade of 0.42% within a 125m (downhole width from 17m to 143m) mineralised zone (downhole width). A total of 56 samples returned results above 0.4% V2O5 including high grade zones of 20m at 0.70% V2O5 from 68m to 88m (downhole depths) and 8m at 0.56% V2O5 from 90m to 98m (downhole depths; as seen in Appendix 2 in link below). The highest vanadium value recorded for this hole is 1.02% V2O5 at 74m below surface.

Project Area Potential

The Caula Project is located within a world-class graphite province and as previously indicated there is significant potential to expand the maiden JORC Inferred Mineral Resource estimate of 5.4 million tonnes at 13% TGC (6% cut-off) through ongoing exploration and drilling.

The results of the completed diamond drilling campaign are expected to expand the current JORC resource and provide insight into the down-dip and eastern extensions of the Caula deposit and enhance confidence in the continuity of the defined mineralisation.

Broad zones of mineralisation were identified during the original sampling program. The lithological logging has indicated an extension of mineralisation eastwards.

The Caula discovery is located at the northern end of a suite of large-scale geophysical (TEM) anomalies that extend over an 18km strike length within Mustang's tenements (see Figure 5 in link below). Drilling at the Caula site confirms a strong spatial correlation between the TEM anomaly and high-grade graphite and vanadium mineralisation in drillhole intersections. The larger-scale TEM anomaly has received minimal drilling to date and therefore remains largely untested.

The Company estimates that, subject to the final results of the Concept study, it can fast track the project development through a two-stage development strategy which will deliver a marketable graphite and vanadium product in H1 2019 from Stage 1. The Company plans to incorporate the average vanadium assay results of 0.42% V2O5 over 125m (from 17m downhole) into a revised graphite and vanadium development strategy update.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/YV1S64Q0 

Managing Director:
Bernard Olivier 
E: bernard@mustangresources.com.au 
M: +61-4-08948-182
T: +27-66-4702-979

Media & Investor Relations:
Paul Armstrong
E: paul@readcorporate.com.au
T: +61-8-9388-1474
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MNF Group Ltd (ASX:MNF) Dividend Reinvestment Plan Price and Participation

March 15, 2018, 5:28 pm
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The Board of MNF Group Limited (ASX:MNF) is pleased to advise that the subscription price for the Dividend Reinvestment Plan (DRP) applicable to the Interim 2018 dividend is $5.07 per share.

This Subscription price represents a 5.0% discount to the 5 day Volume Weighted Average Price (VWAP) ending on 15 March 2018.

The company received subscriptions for 15.5M shares from 625 shareholders. This represents participation from 21.2% of the company's issued capital and 15.8% of the shareholder base.

The Board wishes to thank all those who have elected to participate in the MNF Group Limited DRP. 

Renee Papalia
Executive Assistant to CEO
E: renee.papalia@mnfgroup.limited 
T: +61-2-8008-8231
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Sayona Mining Ltd (ASX:SYA) Half Yearly Report

March 15, 2018, 7:11 pm
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Sayona Mining Ltd (ASX:SYA) (OTCMKTS:DMNXF) present their report of the Company and its controlled entities for the half-year ended 31 December 2017.

Authier Lithium Project, Canada

The Company's primary focus during the half-year has been on completing the studies required to commence the development of the project, including the Definitive Feasibility Study. Authier is a near-term development project and cash-flow generation opportunity. The Company believes it will create significant share value-uplift potential for shareholders as the project advances towards development.

Memorandum of Understanding Signed for Authier Off-Take and Downstream Value Adding Opportunities

During the period, the Company signed a non-binding Memorandum of Understanding ("MOU") with leading China based battery manufacturer, Huan Changyuan Lico Co Ltd ("Changyuan").

Changyuan, a subsidiary of the Fortune 500 Company, China Minmetals Group, is a battery research, development, and production company. In 2016, the company produced more than 16,000 tonnes of battery cathode materials and is expanding its production capacity to 36,000 tonnes in 2018. The main products produced include, lithium cobalt oxide and lithium manganese oxide batteries, and ternary composite lithium-ion cathode materials.

The MOU paves the way for advancing discussions to facilitate a development alliance exploring marketing, technical and financial opportunities for the Authier project, including:

- Changyuan purchasing up to 100,000 tonnes of spodumene concentrate per annum;

- Development partnerships for the value-adding of the concentrates into lithium carbonate and/or lithium hydroxide in either China or Canada; and

- Funding and investment opportunities for Sayona and the Authier project.

Based on the results of the new information, a new Proven and Probable Ore Reserve estimate of 11.66Mt @ 1.03% Li20 at a 0.45% Li20 cut-off grade (see Table 1 in link below) has been defined.

JORC Mineral Resources Upgrade

In June 2017, the Company reported a JORC 2012 compliant Mineral Resource following the Phase 2 drilling program. During the current period, the Mineral Resource was updated to include the Northern Pegmatite which was not previously incorporated in the Mineral Resource. In addition, the Authier Main pegmatite has been increased due to refinement of the lithium solids model for the main pegmatite. The Authier deposit has 20,183 metres of diamond drilling in 150 holes.

Authier Optimised Pre-Feasibility Study

During the period, the Company completed the Optimised Pre-Feasibility Study ("PFS"). The PFS incorporates the new expanded JORC Mineral Resource, results from a number of technical optimisation programs, and realignment of pricing to reflect a concentrate grade of 6% Li2O and more recent industry forecasts. The PFS confirms the technical and financial viability of constructing a simple, low-strip ratio, open-cut mining operation and processing facility producing spodumene concentrate. The positive PFS demonstrates the opportunity to create substantial long-term sustainable shareholder value at a low capital cost.

Key findings of the PFS, include:

- Pre-tax NPV8 of C$221 million and IRR 56% (real terms at 8% discount rate);

- Annual average concentrate production of 96,000 tonnes at 6% Li20;

- Average annual revenue of C$73 million and EBITDA of C$35 million;

- Mine gate cash costs of C$370/t and FOB Port cash costs of C$430/t (US$327/t); and

- Initial capital expenditure of C$64 million and C$110 million over the life-of-mine.

Authier Definitive Feasibility Study

The Company has awarded the main components of Authier Definitive Feasibility Study ("DFS") including, the mining, processing and infrastructure to BBA.

BBA is an independent Canadian consulting engineering firm operating internationally. Its team is composed of highly-qualified experts in several engineering disciplines including electrical, civil, mechanical, industrial data processing, mining, metallurgical processes, automation, and construction management. BBA have extensive experience in the Canadian mining industry and have been actively involved in Feasibility Studies for Quebec lithium projects.

A number of other DFS work programs including geotechnical, transport and environmental have been outsourced to specialist contractors are underway.

Western Australian Projects

Exploration tenure in Western Australia includes leases covering some 1780km2 in the world class Pilgangoora lithium district. The 141km2 Mallina project, E47/2983, has been the main focus of work during 2017 and three new zones of spodumene pegmatite have been identified, including the recent Area C prospect discovery. A potential for gold mineralisation has also been recognised at the Deep Well and Friendly Creek areas.

Mallina Project

Exploration at Mallina continued within a 6x3 kilometre zone where three groups of spodumene pegmatites have been identified to date. Work was focussed at the Area C prospect where spodumene pegmatites were identified. Additional rock sampling has confirmed the presence of strong lithium mineralisation, with a maximum 4.27% Li2O returned in pegmatite with visual spodumene. Soil sampling (354 samples) returned a strong, coherent lithium anomaly as well as defining unexplained lithium anomalies in the more regional sampling.

Regional Lithium Projects

During the period, reconnaissance was made at the West Wodgina tenement, E45/4726. Twenty-one rock samples were collected of granite and pegmatite to identify fractionation trends and help define the general prospectivity of the area. Results include elevated lithium and tin, indicating several areas for follow up sampling in the 2018 field season.

Great Sandy Option

During the period, the Company made the first stage option payment to Great Sandy Pty Ltd ("Great Sandy") to acquire a 694 km2 package of 6 tenements in the world-class Pilgangoora lithium district of Western Australia.

The Great Sandy purchase terms include an option to acquire an 80% interest in all the tenements by making staged payments in cash or shares at Great Sandy's election of $300,000 (current payment) within 12 months and $300,000 within 24 months and free carrying Grant Sandy to Decision to Mine. At the Decision to Mine, Great Sandy can either elect to dilute or contribute to ongoing expenditure commitments or convert the 20% interest to a 2% gross smelter royalty.

Corporate

During the period, the Company completed a pro rata renounceable rights issue, comprising an offer on the basis of one (1) new share for every two (2) existing shares held at an issue price of 1 cent ($0.01) per share. Under the Rights Issue, 487,410,061 new shares were issued raising $4,874,101 before the costs of the offer. The Company also issued 12,817,114 shares (value $440,000) and 5,000,000 options (which were exercised) in the period. At balance date, assets totalled $12,612,949, which included a cash balance of $3,452,109.

SUBSEQUENT EVENTS

In addition to advancing its Australian and Canadian exploration projects, the following matters or circumstances have arisen since balance date:

On 19 January 2018, the Company entered into an agreement for the staged acquisition of the Tansim lithium exploration project in Quebec, Canada.

The agreement provides for the Group to acquire an initial 50% interest in the property through the expenditure of CAD$105k for claim renewal costs of the property. This expenditure amount is reduced by exploration expenditure completed on the property prior to 31 January 2018 (up to CAD$65k). The Group can then earn a 100% interest in the property by completing the following milestones:

- Investing CAD$200k in exploration and pay CAD$100k in cash to Matamec Explorations Inc within the first 12 months; and

- Investing CAD$350k in exploration and pay CAD$250k in cash to Matamec Explorations Inc within 12 and 24 months of signing.

To view the full report, please visit:
http://abnnewswire.net/lnk/6KS5V270 

Sayona Mining Ltd
T: +61-7-3369-7058
E: info@sayonamining.com.au
WWW: www.sayonamining.com.au
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EON NRG Ltd (ASX:E2E) Cobalt Prospects Acquired in Nevada, USA

March 15, 2018, 8:33 pm
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Eon NRG ("Eon" or the "Company") (ASX:E2E) (OTCMKTS:ICRMF) advises that it has acquired 18 mineral claims in Nevada's Basin and Range Province, highly prospective for cobalt, covering approximately 360 acres. The claims are located ~2 miles from an historic cobalt mine, and interpreted to be on a parallel offset structure.

Historical silver, lead, and gold mines surround the newly staked claims and several older prospect workings sit within the area of the claims. The mineral rich area is composed of a geologically complex suite of igneous, metamorphic, and sedimentary rocks. In addition to the complex geology in the area an active hydrothermal system beneath the claims may enhance mineralization along active outcropping faults.

Exploration work commenced

Eon has already commenced exploration over the claims including mapping and sampling selected sites.

Rock types seen and collected while in the field were varied and showed a mix of mafic intrusive units (gabbro), mafic volcanic units (greenstones), extrusive rhyolites, metamorphic quartzite and marble, and hydrothermally precipitated mineralization from active steam vents.

Geological Setting

The Basin and Range province of the Western United States, and Nevada is composed of an alternating series of mountain ranges and arid valleys which extend westward from the Colorado Plateau to the Sierra Nevada Mountains. Generally, mountain ranges and valleys are oriented roughly parallel to one another and generally strike NNE to SSW. The ranges are composed of a mix of Mesozoic and Tertiary volcanic and sedimentary rocks. The basins or valleys are arid and are filled with tertiary sediments from the adjacent mountain ranges. Additionally, evaporite deposits, dry lake beds, and salt marshes are found throughout the region in the low-lying valleys due to snow during winter and extremely dry hot summers.

Nevada's geological history is complex, which can be seen in the vast and variable geology throughout the state. Intrusive igneous rocks characterized by basaltic and gabbroic magmas which have intruded into older Jurassic limestones and sandstones resulting in metamorphosed marble and quartzites in contact with the younger igneous rocks. The fact that most of the Jurassic age intrusive gabbros and basalts were derived from mafic magmas is key to the enrichment of base metals, including cobalt, which occur in lower concentrations within the more felsic magmas, emplaced later in the geological history of the region.

Mining in Nevada

Native Americans have prospected and found gold, turquoise, copper, silver and lead for millennia; the complex geology of the region discussed above has made the region a hotbed for mineral, gem, and metal exploration. Mining and the State of Nevada have gone hand in hand for as long as the region has been inhabited. Nevada is the premier gold district in USA, (the Carlin gold system and Carlin and Battle Mountain trends).

Cobalt and battery metals division

Eon's battery minerals division has commenced cobalt exploration as part of its diversified energy strategy. The energy market is diversifying, and Eon plans to be a part of this and the potentially explosive growth in cobalt - as seen in recent price gains due to worldwide supply shortages.

Further results from the cobalt exploration will be reported in due course.

To view figures, please visit:
http://abnnewswire.net/lnk/K71AH1QW 

Simon Adams
CFO / Company Secretary
Email: sadams@i-og.net
Phone: +61-8-6144-0590
Web site: www.eonnrg.com

John Whisler
Managing Director
Email: jwhisler@i-og.net
Denver Head Office: +1-720-763-3183

Twitter: @EonNRG
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Lake Resources NL (ASX:LKE) Hunter Capital Research Report

March 15, 2018, 8:34 pm
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Investors in Argentinean focused lithium exploration company Lake Resources N.L. (ASX:LKE) ("Lake", "Company" or "LKE") are advised that Hunter Capital Advisors has today published a research report on the Company.

Hunter Capital Advisors is an independent, full service corporate advisory firm and has a strong reputation within the mining sector. The research report provides an in-depth review of Lake Resources four lithium projects, including the Olaroz-Cauchari Lithium Brine Project and the Kachi Lithium Brine Project, including a valuation.

To view the report, please click the link below or contact Hunter Capital Advisors - info@huntercap.com.au
http://abnnewswire.net/lnk/H883036E 

Steve Promnitz
Managing Director
Lake Resources N.L.
T: +61-2-9188-7864
E: steve@lakeresources.com.au
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Cobalt Blue Holdings Limited (ASX:COB) Half Yearly Report

March 15, 2018, 11:02 pm
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The directors present their report together with the financial report of Cobalt Blue Holdings Limited (ASX:COB) ("COB" or "the Company") for the half-year ended 31 December 2017 and the auditor's review report thereon.

Mineral Exploration Activities

The Thackaringa Cobalt Project is located approximately 23 km South East of Broken hill NSW comprising EL 6622 and EL8143 totalling 63km2. The Thackaringa project is located within the Broken Hill Block of the Curnamona Province and is composed of Willyama Supergroup high grade regional metamorphic gneisses, schists and amphibolites. Within the project area the local geology is dominated by quartz-albite-biotite gneiss, quartz-albite gneiss, and amphibolite dykes. The extensive stratabound cobalt-pyrite mineralisation at each prospect (Pyrite Hill, Big Hill and Railway) is hosted by quartz-albite gneiss.

Mineralisation at the three prospects has a combined strike length of 4.5 kilometres with widths varying from 25 metres to 100 metres. The increased thickness is typically due to the extensive development of tight isoclinal folding within the pyritic horizon.

During September, a major heliborne electromagnetic ('EM') survey (VTEM-Max) was completed at Thackaringa. The survey covered the entire project area at a nominal 100m line spacing and identified several strong EM responses.

Multiple targets were identified as extensions of, or nearby to, known Thackaringa Cobalt Pyrite deposits, with the survey also successfully 'fingerprinting' known mineralisation (i.e.: calibrating EM signatures with known drilling results). This calibration provides improved confidence in overall results, allowing prioritisation of targets based on similar signatures to known mineralisation. Four high potential areas were identified.

A target occurring as a nearby extension of the Railway deposit forms an immediate high value focus, backed by existing drilling data. This target appears to reflect the folded nature of the Cobalt Pyrite mineralisation and has resulted in significant thickening.

The 2H 2017 drilling program comprised seventy-four (74) drill holes for 12,458.7 metres and included sixteen (16) DD holes, fifty-five (55) RC holes and three (3) RC holes with diamond tails. By deposit fortyeight (48) holes were drilled at Railway, seventeen (17) holes at Pyrite Hill and nine (9) holes at Big Hill. The drilling program was designed to reduce the drill hole section spacing providing added confidence in grade distribution and continuity to enable a significant portion of the current Inferred Resource to be upgraded to Indicated Resource. Many of the diamond drill holes were designed to provide structural information for pit design and further samples for metallurgical testing.

Final tabulation of the assay data is now complete and updating the geological models and mineralisation domains has commenced. New resource estimates for each of the deposits are expected by early March.

To view the full report, please visit:
http://abnnewswire.net/lnk/C044460B 

Cobalt Blue Holdings Limited
WWW: www.cobaltblueholdings.com
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Lake Resources NL (ASX:LKE) Half Yearly Report

March 18, 2018, 3:04 pm
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The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'consolidated entity') consisting of Lake Resources NL (ASX:LKE) (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 31 December 2017.

Corporate

During 2016, the Company adjusted its exploration focus to the exploration and development of lithium brine projects and lithium hard rock projects in a prime location amongst the major lithium companies in Argentina, having conducted activities in Argentina previously. In 2017, the Company holds four separate lithium projects in Argentina, each with potential to be a substantial stand alone development project, or colloquially, each "a company maker". Lake holds one of the largest lease holdings of lithium brine and hard rock projects of a listed entity on the ASX.

On 14 November 2016, the Company completed the acquisition of an unlisted company LithNRG Pty Ltd, with exciting lithium brine projects in three large packages of mineral lease applications (over 90,000 Ha) around salt lakes in North West Argentina. The leases had been established prior to the significant interest by majors and investors in lithium in Argentina. Lake controls 100% the subsidiary LithNRG Pty Ltd with its Argentine subsidiaries, Minerales Australes SA and Morena del Valle Minerals SA. The transaction was share based, followed by two private placements in December 2016 and February 2017.

An option agreement was entered into over a large block of mining leases and exploration applications over lithium bearing pegmatites in Argentina in February 2017. Consideration for the transaction are shares in the Company. This agreement was extended into FY2018 to allow completion of the establishment of the local entity, Petra Energy SA, and 19 million LKE shares would be issued if the option is exercised.

An unsecured debt security (note) was announced in November 2017 and raised $1.665 million from sophisticated and professional investors in the form of 1,665,000 unsecured notes at $1. This note will be repaid in the second half of FY2018 as other funds become available.

To view the full report, please visit:
http://abnnewswire.net/lnk/1J540MI2 

Lake Resources NL
WWW: www.lakeresources.com.au
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Broken Hill Prospecting Ltd (ASX:BPL) Half Yearly Report for the Period Ended 31 December 2017

March 18, 2018, 3:09 pm
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The Directors present the following report including financial statements of Broken Hill Prospecting Limited (ASX:BPL) (Company) for the six months ended 31 December 2017.

Review of Operations

Broken Hill Prospecting Limited (ASX:BPL) is an Australian exploration company focussed on the discovery and development of strategic mineral resources across two primary geographical areas; the Broken Hill Region (base, precious and industrial metals, including the Thackaringa Cobalt & Base/Precious Metal Project) and the Murray Basin Region (Heavy Mineral Sands).

Additional information about the Company is available on BPL's website at http://www.bhpl.biz

Thackaringa Project, Broken Hill, NSW

Thackaringa Cobalt Project Joint Venture (TJV)

The successful spin-off of Cobalt Blue Holdings Limited (ASX:COB) was completed in February 2017, with investors seeking shares and options exceeding the $10 million maximum being offered. The deal was an important initiative for BPL to realise significant value from its Thackaringa Cobalt Project.

An important part of the spin-off was that BPL enter a detailed farm-in joint venture agreement with COB to finance and undertake an extensive exploration and development program at Thackaringa (the TJV). BPL and COB agreed to certain changes to the joint venture agreement on the 30th June 2017, which are summarised in Table 1 in link below.

Under the TJV, COB can earn 100% of the Project if it completes a 4-stage farm-in by committing $10.9 million project expenditure before 30 June 2020 and paying BPL $7.5 million in cash. In addition, BPL will receive a 2% net smelter royalty on all cobalt produced from the Thackaringa tenements for the life of mine.

Subject to COB completing Stage 1 milestones, COB has a 51% beneficial interest in the Thackaringa Cobalt Project with BPL retaining a 49% beneficial interest. In order for COB to retain its 51% beneficial interest, key deliverables by 1 April 2018 are a 40Mt Indicated Resource sufficient to support a Prefeasibility Study to JORC 2012 standard. A Pre-feasibility Study is due by 30 June 2018 and forms part of Stage 2 milestones whereby COB can earn up to 70% beneficial interest.

Importantly, under the terms of the TJV, BPL retains the rights to lead, zinc, copper, silver and gold minerals on the TJV tenements.

Scoping Study

BPL received a Scoping Study for the Thackaringa Cobalt Project from COB on 30 June 2017. The results of the Study were positive and importantly provided strong encouragement for the joint venture to commit to the next stage of exploration and development.

Pre-feasibility Study

During the reporting period, a major drilling program was completed to support a resource upgrade in preparation for Pre-feasibility Studies.

The drilling program comprised seventy-four (74) drill holes for 12,458.7 metres and included sixteen (16) DD holes, fifty-five (55) RC holes and three (3) RC holes with diamond tails. By deposit forty-eight (48) holes were drilled at Railway, seventeen (17) holes at Pyrite Hill and nine (9) holes at Big Hill.

The results demonstrate strong continuity along both strike and down dip at the Railway, Pyrite Hill and Big Hill deposits. Cobalt mineralisation outcrops in prominent ridgelines that extend for 4.5km strike with widths ranging from 25 to 100m and open at depth.

The drilling program was designed to upgrade the resource to Indicated status, expand the overall resource base, provide comprehensive geotechnical information and additional samples for metallurgical testing.

The Pre-feasibility Study is well advanced with the continuation of metallurgical test work and ongoing geotechnical, hydrological, mining and environmental assessments. Results to date have been positive and the joint venture remains on track to complete Stage Two deliverables by 30 June 2018.

Thackaringa Base & Precious Metal Exploration

BPL retains the rights to all lead, zinc, copper, silver and gold minerals at Thackaringa under the terms of the TJV with COB.

During the reporting period, a major heliborne electromagnetic ('EM') survey (VTEM-Max) was completed at Thackaringa covering the entire project area (63km2) at a nominal 100m-line spacing.

The survey was fully funded by COB as part of the TJV.

The high resolution electromagnetic and magnetic data was used in conjunction with geological mapping to produce a new tenement-scale, 3D geological model which has greatly enhanced base and precious metal targeting at the Thackaringa Project.

Multiple base and precious metal anomalies have been identified for further evaluation, including a newly discovered zinc, lead and silver (Zn-Pb-Ag) prospect with outcropping quartz-gahnite veins - a key vector for Broken Hill-style Zn-Pb-Ag mineralisation.

The updated geology model has provided renewed focused on previously explored prospects, with rocks chips defining extensive Cu-Pb-Zn-Au-Ag mineralisation:

- Pyramid Hill
o 7.5% Cu, 40g/t Ag, 1g/t Au, 0.1% Ni & 0.2% Pb

- Old Coolgardie West
o -- 5.2% Cu, 140g/t Ag, 0.2g/t Au, 0.2% Ni & 0.1% Pb

- Himalaya North
o -- 2.6% Cu, 5.9% Pb, 62g/t Ag & 0.8% Zn

Key ASX Announcements

5 March 2018: PFS - Calcine and Leach Testwork Complete - Strong Results

24 January 2018: Significant Thackaringa Drilling Program Complete

12 December 2017: Latest Thackaringa Project Results

22 November 2017: Multiple large base and precious metal targets found at Thackaringa Project

27 September 2017: Geophysical Survey and 3D Modelling Commences at Thackaringa

Heavy Mineral Sands Projects, Murray Basin NSW, VIC and South Australia

Major Expansion

During the reporting period, BPL under took a restructure and major expansion of the mineral sands portfolio. BPL now holds the largest tenement portfolio in the world class Murray Basin placing the Company in a strong position to take advantage of improving market conditions.

The expanded tenement footprint is underpinned by extensive data compilation and prospectivity analysis that has equipped BPL with a unique proprietary database comprising approximately 45,000 drill holes for 1.5 million metres of drilling. The database reflects a total exploration replacement value of approximately $650 million in today's terms (drilling and assay only).

BPL is targeting the establishment of a sustainable pipeline of high grade, low tonnage deposits amendable to processing through low capex/low opex mobile plant equipment that could be deployed across the broader project area.

Joint Venture Dispute Resolved

Part of the tenement portfolio re-structure involved settlement of a dispute with former joint venture partner Relentless Resources Ltd. The partial divestment of the heavy mineral sands portfolio raised $3.1m cash and has put the Company in a strong financial position.

Maiden Resource Estimates

On 10 August 2017, BPL announced maiden Mineral Resource estimates for the Jaws and Gilligans HMS deposits. Jaws and Gilligans deposits are located in south-western New South Wales approximately 50km north of Mildura and 20km east of the Silver City Highway, which links Mildura to Broken Hill.

The Inferred Mineral Resources comprise a total of 113 Mt @ 1.8% HM and 3% slimes containing 2 Mt of HM with an assemblage of 10% total ilmenite, 10% zircon, 26% rutile and 21% magnetic leucoxene and 2% non-magnetic leucoxene including: (see table 2 in link below).

Subsequent to the end of the reporting period, the Company has applied for several additional tenements in the Broken Hill region. These application areas, prospective for base, precious and industrial minerals, are under review. At the date of this report the applications have not been granted.

Key ASX Announcements

4 October 2017: Murray Basin Heavy Mineral Sands Expansion Strategy Advances

28 September 2017: Completion of Legal Dispute Settlement

10 August 2017: Large Maiden Resource Estimate Murray Basin Mineral Sands

28 June 2017: Dispute Settled and HMS Expansion Plans Accelerate

The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcements, and, in the case of exploration targets, that all material assumptions and technical parameters underpinning the exploration targets in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings presented have not been materially modified from the original market announcements.

To view the full report with tables and figures, please visit:
http://abnnewswire.net/lnk/KHX0812O 

Broken Hill Prospecting Ltd
Trangie Johnston, CEO
T: +61-2-9238-1170
WWW: www.bhpl.biz
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Rumble Resources Ltd (ASX:RTR) Half Yearly Report

March 18, 2018, 3:14 pm
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Rumble Resources Ltd (ASX:RTR) submit the financial report of the Consolidated Group "the Group" for the half-year ended 31 December 2017.

REVIEW OF OPERATIONS

During the period Rumble Resources Ltd ("Company') executed the board's clear strategy of organic growth by generating a pipeline of quality high grade base and precious metal projects which are critically reviewed against stringent criteria by Rumbles technical director Brett Keillor.

Rumble's Technical director Brett Keillor brings a very successful background in exploration having discovered 7 significant deposits worldwide and twice recipient of the AMEC Award "Prospector Of The Year", for the Plutonic and Tropicana discoveries and thirty years of identifying company making projects with majors Resolute and IGO.

In April 2017 Rumble announced the acquisition of the Company's flagship Braeside high grade Zinc-Lead project and subsequent exploration during the period culminated in a maiden drilling program, which was significant in identifying a new high-grade zinc discovery in its first ever drill program. Rumble also added the Earaheedy High Grade Zinc Project, Munarra Gully high grade Copper Gold Project, Nemesis high grade Gold Project and the Barramine High Grade Cu-Pb-Zn-Ag Project option.

Four of these projects will be drilled tested in 2018 with JV partner IGO exploring our Fraser Range Project. Exploration by Rumble in 2018 will give shareholders multiple near term catalysts to have a significant re-rating with each drill program a chance to make high grade discoveries.

Braeside High Grade Zn-Pb-Cu-Ag -V Project - New High Grade Zinc Discovery

- 34km strike of base metal mineralisation with high grade grab sampling assays returning up to 29.31% Zn, 79% Pb, 17.48% Cu, 325 g/t Ag, 13 g/t Au and V205 3.29%

- Rumble completed first systematic modern exploration on the project which culminated in the first ever RC drilling on the project in late 2017 which identified a new high grade zinc discovery at Devon Cut 5m @ 8.0% Zn, 0.35% Pb from 32m

- 2 x Drill Programs planned in 2018 to commence in May

- Rumble is targeting high-grade fault breccia pipe type deposits (2-5Mt of high-grade Zn and Pb) and lower grade disseminated base metal deposits (30-50Mt).

Barramine High Grade Cu-Pb-Zn-Ag Project

- High grade prospects of up to 25.32% Cu, 279 g/t Ag, 6% Pb and 1.8% Zn not tested by modern exploration

- Rumble to conduct maiden exploration in 2018

Earaheedy High Grade Zn Project

- Historical drilling discovered high-grade zinc up to 18.6% within an intersection 3.3m @ 11.2% Zn, and 0.93% Pb from 150m.

- Rumble completing targeting for maiden drill program in 2018

- The target size is similar to the Pillara (Blendevale) Zn - Pb deposit located in the Devonian limestones of the Lennard Shelf, which produced 10.3 Mt @ 6.9% Zn and 2.3% Pb

Munarra Gully High Grade Cu-Au Project

- Historic exceptional intersection from surface of 40m @ 0.66% Cu, 4.85 g/t Au to EOH, with an intersection 8m @ 1.32% Cu, 22.75 g/t Au from 24m - open at depth

- Rumble maiden drill program planned for April 2018

Nemesis - High Grade Au Project

- Historic small scale gold mine produced from 1900-1910 7157oz of gold from 2276 ton of ore - 98 g/t Au

- Rumble maiden drill program planned for April 2018

Fraser Range Ni -Cu Projects

- JV with major Independence Group NL (ASX:IGO) who has completed 12000m of drilling, results pending.

The Company is in an exceptionally strong cash position being fully funded with $5.2mil in bank to compete the exploration plans with all projects acquired low cost exploration to test for discovery.

The Company continued to review its project portfolio during the period, and relinquished non-core assets that were assessed to not present an opportunity to achieve shareholder value. The Company continued to maintain its existing projects in good standing and review opportunities to advance these projects.

SUBSEQUENT EVENTS

On 16 January 2018 and 22 February 2018 drilling results from the maiden drill program at the Braeside Project were disclosed to the market.

On 5 February 2018 the Company provided an update on its JV with Independence Group NL at the Company's Fraser Range Projects.

On 27 February 2018 the Company announced to the ASX an Option agreement had been executed to acquire the Munarra Gully Copper Gold Project.

On 6 March 2018 the Company announced to the ASX an Option agreement had been executed to acquire the Nemesis Gold Project.

With the exception of the above, no events occurred of a material nature that require further disclosure.

To view the full report, please visit:
http://abnnewswire.net/lnk/R4GWAF30 

Rumble Resources Ltd
Shane Sikora, CEO
T: +61-8-6555-3980
WWW: www.rumbleresources.com.au
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Queensland Bauxite Ltd (ASX:QBL) Half Year Report

March 18, 2018, 3:51 pm
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The Directors present their report on Queensland Bauxite Limited, consisting of Queensland Bauxite Limited (ASX:QBL) ("the Company") and the entities it controlled at the end of or during the half-year ended 31 December 2017.

EXECUTIVE CHAIRPERSON'S REPORT

It has been my pleasure, as QBL's Executive Chairperson and responsible for Business Development, to oversee and guide, on behalf of the Board of Queensland Bauxite Limited (ASX:QBL), the expansion of Queensland Bauxite Ltd from purely an exploration company, through its investment in Medical Cannabis Limited (MCL), to also become a global player in the burgeoning multi-billion dollar Cannabis Industry. We are very pleased to be involved in investment, joint ventures and licensing agreements with major global partners in Medical Cannabis product development and research and Hemp Food Consumer staples.

The Board at Queensland Bauxite Ltd is very excited with the recent success and progress of its investment in Medical Cannabis Ltd. During the past 6 months MCL has entered into formal agreements and Joint ventures with companies such as: EndoCRO Ltd, Israel, for the formulation of a unique medical Cannabis drug delivery system: CannTab Therapeuticals, Canada, for the rights to exclusively manufacture and distribute throughout Australia and Asia their exclusive pharmaceutical grade GMP (XR) CannTab pills for many illnesses such as chronic pain relief and treatment to alleviate symptoms of Epilepsy: AlgaeTec, Australia, is licensing our unique Cannabis cultivar seed bank to formulate Cannabis medicinal products for veterinary medications: The TECHNION, Israel. MCRG, our Medical Cannabis Research Group, has signed an agreement to fund the research studies of Dr David (Dedi) Meiri Ph.D., and his team as they investigate the intervention of medicinal Cannabis to disrupt the debilitating mechanisms of Autoimmune Disease, in particular, Multiple Sclerosis. MCRG has the rights to an exclusive license agreement to benefit from any discoveries that come as a direct result of the research being conducted by Dr Meiri and his team. We were also very pleased to have John Easterling, a world-renowned expert in Cannabis Therapeuticals, agree to join the MCL Board. We look forward to John's contribution to all our MCL Projects in 2018.

The Board is also pleased that the South Johnstone Bauxite Project has achieved some significant milestones during the current reporting period, with the granting of a Mining Development License, and the approval of the Environmental Authority for the MDL Work Programme. As we head forward in 2018 we are currently in discussions with some major players in the International bauxite market, with test batch samples of our ore currently being assessed in their refineries. It is our belief that this will be a significant year in the development and life of our company, and look forward to profitable returns on our investments moving forward.

MILESTONE ACHIEVEMENTS & HIGHLIGHTS

'QBL is very pleased to report an exceptionally strong performance for our half year result.'

QBL

- The DNRM formally approved the Mineral Development License (MDL) for the South Johnstone Bauxite Project

- Trial production of Bauxite samples have been sent to potential international customer refineries

- The DEHP have approved the amendment to our previous Environmental Authority (EA) to allow QBL to undertake development work at the South Johnstone Bauxite Project

- $8,924,918.00 Cash balance as at December 31, 2017

- A marketing agency has been signed up to assist in the process of obtaining sales agreements with bauxite refineries

MCL

- QBL owns 55% stake in premier Australian Cannabis and Hemp Company, Medical Cannabis Limited (MCL)

- 20 tonnes of certified low THC hemp seed was sown to enable MCL to grow enough low THC Cannabis to supply an immediate demand for Australian hemp seed products

- MCL released its VitaHemp range of Hemp Seed Food products to the Australian market in November 2017

- MCL established VitaCann to handle its medical product range and to negotiate strategic alliances and partnerships in the medicinal Cannabis area of its business in Australia, Israel, Canada, Asia and Europe

- MCL signed a strategic partnership with EndoCRO Ltd in Israel to develop an advanced Cannabis formulation utilizing a pharmaceutical grade drug delivery system which is intended to revolutionize the medical Cannabis industry

- MCL is the only major fully vertically integrated all-Australian hemp food company, from the 'seed to the plate' not only for its VitaHemp brand but for many other Australian hemp food suppliers

- John Easterling, a Cannabis Therapeutics expert from the USA agrees to join the Board of MCL

- MCL: VitaCann entered into an exclusive 50/50 Joint venture partnership with the Canadian Canntab company which has developed a unique world first Cannabis GMP Pharmaceutical Grade Extended Release (XR) pill that comes in a number of formulas intended to treat different illnesses such as chronic pain, anxiety and epilepsy.

- The joint venture between MCL: VitaCann and CannTab has been formed, to market and sell the Canntab proprietary products in Australia with a first right to distribute throughout Asia

- MCL is in the process of securing an Import License and permits to bring in the CannTab range of Medicinal Cannabis Pharmaceuticals

- MCL have entered into an agreement with ASX listed AlgaeTec Limited (AEB) to utilize MCL's exclusive seed bank and lawful genetics, to develop medical Cannabis products for the animal industry. AEB will exclusively license Medical Cannabis Limited's (MCL) Low THC Delta 9 Cannabis cultivars from the unique Australian Cannabis seed bank owned by Medical Cannabis Limited

- MCL through its wholly owned subsidiary Medical Cannabis Research Group Pty Ltd (MCRG), has signed a Research Funding Agreement with the Research & Development Foundation at the Technion Institute, Haifa, Israel. The agreement revolves around the research of Prof. David (Dedi) Meiri Ph.D., from the Faculty of Biology at the Technion Institute

- MCRG will sponsor the continued Research of how the Cannabis plant can be used for the treatment of Multiple Sclerosis (MS)

- MCRG has committed to fund USD$3M (1 + 1 + 1) over a 3-year period, towards the research budget, in return for an exclusive license of any product to be developed from this research for MS, or potentially for any product that could alleviate or treat any other auto immune disease that could be developed from this research

To view the full report, please visit:
http://abnnewswire.net/lnk/H4A7540G 

Queensland Bauxite Ltd
T: +61-2-9291-9000
F: +61-2-9291-9099
E: info@queenslandbauxite.com.au
WWW: www.queenslandbauxite.com.au
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Blackham Resources Ltd (ASX:BLK) Golden Age Underground Mine Plan Growing

March 18, 2018, 4:29 pm
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Blackham Resources Limited (ASX:BLK) (OTCMKTS:BKHRF) ("Blackham" or "the Company") is pleased to confirm the Golden Age Underground mine plan continues to grow with it being extended for a further 6 months to Dec'18.

Highlights

- Golden Age underground mine has generated strong cash flows since Jul'17

- Blackham successfully transitioned to owner mining in Oct'17

- Mining studies have extended the Golden Age Underground mine plan from Jun'18 to Dec'18

- Underground drilling to commence this week on priority targets with excellent potential for further mineralisation

- Drilling aimed at increasing mine life and mining rate to maintain a 6 to 12-month underground mine plan

- Blackham has also commenced a drill programme targeting extension of open pit oxide mineralisation at both the Matilda and Wiluna Mines

After successfully moving to an owner operator miner in the Golden Age Underground in Oct'17, reducing mining costs and risk, Blackham commenced evaluation of the economics of the remaining Golden Age Underground resource of 0.9Mt @ 4.5g/t for 129koz Au. These mining studies have now added another 24.6kt @ 6g/t for 4,700oz of production targeted between July to December 2018. This additional targeted production is incremental to the previously disclosed underground mine plan which finished in Jun'18. Production is now expected to continue to produce ~ 2,500oz per quarter through to at least Dec'18.

The Golden Age Underground deposit is a high grade and free milling gold rich quartz vein. Historically, the Golden Age Underground has produced 160,000oz @ 9g/t Au. Since recommissioning this mine, Blackham has produced 19,500oz @ 4.7g/t Au. After moving to predominately airleg mining in Oct'17, Blackham has successfully increased the average mined grade to 8.1g/t Au.

The previous exploration drilling programme at Golden Age Underground was completed in June 2017. Over the last 8 months, Blackham's geology team has identified several priority targets. Underground drilling will commence this week aimed at further extending the mine plan and potentially allowing an increased mining rate.

Blackham's Managing Director, Mr Bryan Dixon, said:

"Blackham has successfully added another six months to the Golden Age Underground mine plan and is aiming to maintain a 6 to 12 month rolling mine plan going forward. This week drilling with commence down dip and down plunge from where we are currently mining strong grades at Golden Age."

Background and Programme Details

The Golden Age Underground mine is accessed by the Bulletin portal which is just 2.5km from the 1.8Mtpa Wiluna gold plant. The Golden Age workings commenced in the 1800's and approximately 180,000oz @ 9g/t gold have been produced to date. The discontinuous nature of the quartz in places led to previous miners not accessing gold mineralisation in some areas already mined. Recent mining of these remnant areas armed with a greater understanding of the style of mineralisation has produced much of the gold from the underground mining for Blackham in the past year. With the orebody now better understood and the mineralisation open both down dip and down plunge, mining will increasingly focus on the extensions expected from the planned drilling.

Extensive data collation (including additional structural mapping) and a review of the stratigraphic sequence, deformation and mineralising events has been completed for the Golden Age Mine area. Three priority areas were identified for immediate drill testing and further targets are planned for testing in future aimed at maintaining a minimum 6-12 month mine life. Approximately 2,500m of diamond drilling will be completed from existing development at the nearby underground Bulletin workings.

The mineralisation is comprised of gold rich quartz lenses, commencing approximately 300m below surface, contained in a shear zone dipping variably at 35-60 degrees. There is virtually no drilling deeper than the current base of working. Most of the planned drilling is aimed at defining extensions to the zone of mineralisation now being mined - named the Champagne Lens.

The three initial priority targets are:

1. Champagne Lens down plunge - SW lateral extension testing a 60-70m plunging extension (see Figures 2 and 3 in link below). Several stages of drilling are planned to progressively define increased resources down plunge from current stoping on the 882 level and development on the 858 Level.

2. Champagne Lens down dip (see Figure 3 in link below). The initial programme will test the mineralisation approximately 160m further down dip from the current mining area. Additional drilling density will be required progressively to increase resource/reserve base.

3. Golden Age Offset Target - NW extension - The Golden Age Underground mineralisation is truncated by the latter stage Bulletin shear zone. Analysis and limited drilling suggests the Golden Age mineralisation could be offset to the north by this major shear zone. Owing to the depth of high grade mineralisation (~300m), surface testing is not practical to locate additional mineralisation and only limited underground drilling to the north side of the Bulletin Fault has targeted the offset location. Two holes are planned from the Bulletin workings to further test for this possible offset to the north (see Figures 1 and 3 in link below).

To view tables and figures, please visit:
http://abnnewswire.net/lnk/9J394IVZ 

Milan Jerkovic
Executive Chairman
T: +61-8-9322-6418 

Bryan Dixon 
Managing Director
T: +61-8-9322-6418

Jim Malone
Investor Relations
T: +61-419-537-714

John Gardner
Media Relations
Citadel Magnus
T: +61-8-6160-4900
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Thomson Resources Ltd (ASX:TMZ) Strong Drill Results at Bygoo Tin

March 18, 2018, 4:30 pm
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Thomson Resources (ASX:TMZ) is pleased to announce tin assays from its first 2018 drill campaign at the Bygoo tin project near the old Ardlethan tin mine, NSW. Twelve holes for 1104m were drilled at Bygoo North to confirm interpreted mineralisation zones and extend the mineralisation by testing along strike and at depth.

- Strong tin intercepts continue at shallow depths at Bygoo North

- Up to 10m at 1.0% Sn from 22m depth down hole

- Further extension drilling strongly warranted

- Further results from Bald Hill (tin) and Harry Smith (gold) awaited

High grade tin intersections of similar tenor to those previously recorded were obtained along interpreted northerly and easterly mineralised trends (see Figure 1 in link below). The standout intersections are -

- BNRC42- 10m at 0.5% Sn from 23m depth

- BNRC43- 4m at 0.8% Sn from 9m depth

- BNRC44- 12m at 0.6% Sn from 26m depth

- BNRC46- 8m at 0.8% Sn from 62m depth

- BNRC47- 3m at 1.4% Sn from 144m depth

- BNRC50- 7m at 0.9% Sn from 124m depth

- BNRC51- 10m at 1.0% Sn from 22m depth

- BNRC52- 13m at 0.5% Sn from 20m depth

Seven holes were drilled to the north of the historic "Dumbrells" pit searching for shallow mineralisation as seen in the previous drill hole BNRC038 (8m at 1.2% Sn from 16m depth). Drilling was successful (see Figure 1 in link below) with six of those holes intersecting wide, high grade, tin mineralisation in quartz- and tourmaline-rich greisen alteration zones at the granite-rhyolite contact. The new drilling has defined a north-south zone of mineralisation extending at least 120m from the historic pit area. The zone is shallow and open to the north. Follow up drilling is planned.

Holes BNRC47 (see Figure 2 in link below) and BNRC50 (see Figure 3 in link below) targeted deeper extensions of the main zone of mineralisation to the east and were also positive, although both holes encountered difficulty at depth and didn't reach final target depth. Intersections of 3m at 1.4% Sn and 7m at 0.9% Sn respectively confirm that not only is the mineralisation open in this direction but there are potentially additional greisen zones.

Holes BNRC52 and BNRC53 were targeted south of the old pit to verify the greisen geometry and were partly successful with BNRC52 intersecting 13m at 0.5% Sn from 20m depth. The interpretation here is that this mineralised zone is similar to the contact greisen north of the pit with the old workings having been undertaken on an outcropping portion of this north-south contact greisen (see Figure 1 in link below).

A new round of drilling is being planned to further extend and confirm the high-grade tin zones intersected.

Additionally, final results are awaited for drilling at the Bald Hill tin target and Harry Smith gold prospect.

Bygoo Tin Project

The Bygoo Tin Project was acquired by Thomson Resources in 2015 and lies on the 100% owned EL 8260. The EL surrounds the major tin deposit at Ardlethan which was mined until 1986, with over 31,500 tonnes of tin being produced (reference Paterson, R.G., 1990, Ardlethan tin deposits in the Australasian Institute of Mining and Metallurgy Monograph no. 14, pages 1357-1364). There are several early-twentieth century shallow tin workings scattered up to 10km north and south of Ardlethan, and few have been tested with modern exploration. Thomson has had immediate success in drilling near two of the historic workings, Bygoo North and South, which lie towards the northern end of the tin-bearing Ardlethan Granite.

At Bygoo North Thomson has intersected multiple high-grade tin intersections in a quartztopaz- cassiterite greisen including 11m at 1.0% Sn (BNRC10), 35m at 2.1% Sn (BNRC11), 11m at 1.4% Sn (BNRC13), 11m at 2.1% Sn (BNRC20), 29m at 1.0% Sn (BNRC33) and 19m at 1.0% Sn (BNRC40). This greisen appears to be steep to vertical; about 5-10m wide in true width; strike east-west; and the tin intersections appear to have continuity within the greisen.

At Bygoo South Thomson has intersected a sulphide-rich quartz topaz greisen with highgrade tin intersections including 8m at 1.3% Sn (BNRC21), 20m at 0.9% Sn (BNRC31) and 7m at 1.3% Sn (BNRC35). The orientation and geometry of this greisen is not yet clear.

As announced to the ASX on 21 November 2016, Riverston Tin PL (a wholly owned subsidiary of Thomson) signed a Farm-in and Joint Venture Agreement for its Bygoo Tin Project with a Canadian investor (BeiSur OstBarat Agency Ltd). Bei Sur (or nominee) can earn a 51% interest by contributing $A3 million in staged payments by 30 June 2018. Bei Sur then has an option to contribute additional $A22 million to earn a further 25% interest, which is exercisable until 1 October, 2018.

[For further information and the detail of the above see Thomson Resources ASX Releases of 21 November 2016, 28 June 2017 and 16 October, 2017]

To view tables and figures, please visit:
http://abnnewswire.net/lnk/3O8P09B8 

Thomson Resources Ltd
T: +61-2-9906-6225
E: info@thomsonresources.com.au
WWW: www.thomsonresources.com.au
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Ardiden Ltd (ASX:ADV) Multiple Spodumene-Bearing Pegmatites Intersected at Flagship Seymour Lake Lithium Project

March 18, 2018, 4:54 pm
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Diversified minerals explorer and developer Ardiden Limited (ASX:ADV) (or "the Company") is pleased to advise that the ongoing resource expansion diamond drilling program at the Central and South Aubry prospects continues to demonstrate impressive resource expansion potential, with the first seven drill holes all intersecting spodumene-bearing mineralisation. Central and South Aubry are part of the Company's 100%-owned Seymour Lake Lithium Project in Ontario, Canada.

- Latest drilling hits multiple thick pegmatite sills with large spodumene crystals at Central and South Aubry prospects, continuing to expand the overall Lithium potential of Seymour Lake.

HIGHLIGHTS:

- The first seven diamond drill holes of the campaign have intersected multiple spodumene-bearing pegmatites at various depths at the South and Central Aubry prospects

- Thick mineralised zones containing large spodumene crystals were intersected with a combined down-hole width of up to 32m (SA-18-07).

- Drilling reaffirms continuity and the presence of multiple stacked pegmatite sills, with mineralisation remaining open in all directions

- Targeted ground penetration and truthing methods assisting Ardiden to identify furthers structures surrounding known Aubry pegmatite sills

- The Aubry prospects is just three of approximately 40 pegmatite exposures that were identified along the 5km strike zone during that exploration program, with several of these exposures hosting visible spodumene

- Drilling continues to provide a greater level of confidence in the continuity of the mineralisation, while also steadily increasing the overall scale and potential of the Seymour Lake project.

These latest drilling results are demonstrating significant potential for expansion, with the thickness of the pegmatite sills, whilst also displaying down-plunge continuity of the lithium mineralisation extending north-east from the Central and South Aubry pegmatite exposures (Refer Figures 7 and 8 in link below).

The continued drilling success at the Central and South Aubry prospects clearly demonstrates the potential to expand the Mineral Resource at Seymour Lake, providing strong support for the Company's fast-track development strategy.

Assays for the first seven holes of the current drill campaign are in progress, and planning is already underway to undertake additional targeted exploration drilling across all the Aubry prospects to further define and realise the full potential of Seymour Lake

CENTRAL AND SOUTH AUBRY PROSPECTS DRILLING

The first seven diamond drill-holes completed from the current resource expansion diamond drill program at the Central and South Aubry prospects (holes SA-18-01, SA-18-02, SA-18-05, SA-18-07 to SA-18-10) have successfully intersected multiple pegmatites. Ardiden confirms these drill holes have now been reviewed and logged by the Company's geological team and drill core samples are currently being analysed at Activation Laboratories in Thunder Bay.

Visual logging of the drill cores has confirmed the presence of multiple pegmatite layers at various depths, including impressive intersections: (refer to Tables 1 and 2 in link below for a full list):

- Hole SA-18-07, intersected 32.38m combined metres of spodumene-bearing sills from 67.27m down-hole over a total down-hole thickness of approximately 141m; and

- Hole SA-18-01, intersected 21.76m combined metres of spodumene-bearing sills from 76.20m down-hole over a total down-hole thickness of approximately 150m.

The drilling has reinforced the presence of multiple spodumene bearing pegmatite sills of various thicknesses, with the visual intersections confirming the potential to dramatically expand the mineralised zones at Central and South Aubry prospects to the north-east.

The identification within the drill core of very large white spodumene crystals is another good indicator of the high quality spodumene present at Central and South Aubry

The true potential of these two highly prospective locations has not been fully drill tested and the mineralisation remains open in all directions and at depth. The Company is targeting known lithium mineralisation hosted in multiple sills and will continue to develop its geological interpretation of the Aubry prospects as further assay results and additional ground truthing data is received.

The latest results further highlight the strong potential to expand the Seymour Lake Project, with numerous pegmatite exposures that have not yet been fully explored or tested within the 5km strike zone. The upcoming exploration programs will be testing the broader potential of the project.

The Aubry prospects is just three of approximately 40 pegmatite exposures that were identified along the 5km strike zone during that exploration program, with several of these exposures hosting visible spodumene (refer to Figure 6 in link below).

EXPLORATION UPSIDE

The identification of thick stacked pegmatites sills at Central and South Aubry in drill holes SA-18-01 and SA-18-07 which showed a combined down-hole width of up to 32m, has confirmed the significant potential for resource expansion, as continuity of spodumene mineralisation extending northeast from the known pegmatite exposures has been uncovered. Pegmatites either at, or close to surface represents a strategic advantage for the Seymour Lake project, and potentially allows easier access to high-quality mineralisation in a future mining scenario, whilst proximity of the pegmatites to surface is likely to reduce the required pre-strip.

Ardiden confirms further drilling and exploration is required in order to obtain a true understanding of the size and scale and overall structure of the pegmatite swarms of all the pegmatite sills contained at the North, Central and South Aubry prospects.

CONTROLLING STRUCTURES AND REFLECTORS

As the exploration and drilling programs progresses at Seymour Lake, the Company will place an emphasis on improving the geological understanding around the complexities and controlling structures, to allow for a more targeted and controlled approach to identifying further prospective pegmatite-bearing areas.

This knowledge base is being further enhanced with additional ground penetration and truthing methods. Early results indicate some correlation between the location and extensions of the newly identified sub-structures (reflectors) and some of the multiple Aubry pegmatite sills. These structural reflectors are showing significant alignment with the direction and dip of the known pegmatites and have been partially validated by current and historical drilling.

The validation of the pegmatite extensions and the newly identified structural reflectors can be seen in drill holes SA-18-08 to SA-18-10 (refer Table 2 in link below), where the holes have intercepted a number of thin pegmatite sills in the Tuff dominated zones. Although the pegmatites sills intercepted are not substantial, these drill results are still important having confirmed the boundaries and extensions of multiple stacked pegmatites sills and helped to delineate the controlling structures.

The Company notes early results could also potentially indicate some correlation associated with the Basalt dominated zones as being more conducive to hosting larger and more developed pegmatite structures. Whereas the Tuff dominated zones appears to host thinner and less developed pegmatites (Refer to Figure 9 in link below). Should this correlation be found to have merit, this knowledge could significantly assist Ardiden in future exploration activities when delineating what could be a prospective area on the project.

The upcoming exploration and drilling program will aim to obtain additional data to test if the current correlations associated with the known pegmatite structures has any merit and whether these methods may be able to assist Ardiden with future identification and exploration activities at Seymour Lake.

Ardiden notes that although the pegmatites at Seymour Lake can be somewhat difficult to model and predict due to the variable fluid pathways, confirmation of the interpreted extensions of the spodumene-bearing pegmatites and the verification of multiple pegmatite sills in the latest drilling provides the Company with a greater level of understanding and confidence in the project, while also steadily expanding the overall scale of the project and its future resource potential.

Ardiden confirms that the drill logs contained in this announcement refer to the identification and distribution of visible spodumene crystals of various sizes and colours contained within drill core samples. Ardiden notes that the estimated distribution of visible spodumene crystals in the drill core is not an accurate reflection of potential lithium grade and this will be determined with additional laboratory analysis.

The Company also notes that it has reported various widths of the highly evolved spodumene-bearing pegmatites. The Central and South Aubry pegmatites are classified as highly evolved, complex type, spodumene-subtype, lithium-caesium-tantalum pegmatites. These pegmatites generally form under high-pressure-low-temperature conditions, display complex internal zoning, have relatively low Nb/Ta ratios in the ore-forming assemblages, and contain significantly elevated tantalum values.

Ardiden confirms that the Central and South Aubry pegmatites contains multiple layers of highly evolved complex pegmatites and, as such, a number of the diamond drill-holes have been reported with a down-hole aggregate of visible spodumene- bearing and non-spodumene-bearing pegmatites.

The highly evolved non-spodumene-bearing pegmatites have been clearly identified in the drill log, however the lack of spodumene crystals being externally visible in the drill core is not an accurate reflection of the potential spodumene crystal content within the drill core or the potential lithium grade of the sample, which will be determined with additional laboratory analysis.

Ardiden looks forward to providing further updates as they come to hand.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/2ILXHYVR 

Investors:
Brad Boyle
Ardiden Ltd 
Tel: +61-8-6555-2950

Media:
Michael Weir / Cameron Gilenko
Citadel-Magnus
Tel: +61-402-347-032 / +61-466-984-953
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Prospect Resources Ltd (ASX:PSC) Significant Value Upgrade Following Updated PFS - Arcadia

March 18, 2018, 4:55 pm
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Prospect Resources Ltd (ASX:PSC) (the "Company") is pleased to announce that it has revised its Pre-Feasibility Study ("PFS") over the Arcadia Lithium Project in Zimbabwe.

- Positive improvements in key project parameters further enhances the economics of the project confirming arcadia as a significant future supplier of lithium to the global market.

UPDATED PFS HIGHLIGHTS:

- Increased Ore Reserve of 26.9Mt @ 1.31% Li2O and 128 ppm Ta2O5 Maiden (previously 15.8 Mt @ 1.34% Li2O and 127 ppm Ta2O5). The Ore Reserves support a +20 year mine life.

- Improved ratio of higher value Spodumene to Petalite minerals following delivery of X-ray Diffraction (XRD) sampling programme results.

- Product pricing improvements based on pricing formulae reflecting the long-term Offtake Agreement with Sinomine.

FINANCIAL HIGHLIGHTS OF UPDATED PFS MINE PLAN:

- NPV (see Note 1 below) (10% Discount Rate, pre Tax) of USD340 Million, IRR (see Note 1 below) of 77% and payback of 2 years

- LoM Revenue USD2.6 Billion at a Cash Operating Cost (see Note 2 below) of USD287 per tonne concentrate

- Capital Expenditure remains at USD52.5 Million

ARCADIA UPDATED LITHIUM PFS STUDY

Since the PFS was announced in July 2017, the Company has:

- Increased the Mineral Resource to 43.2 Mt @ 1.41% Li2O and 119 ppm Ta2O5 (1% Li2O cut-off), (34.9 Mt @ 1.42% Li2O and 125 ppm Ta2O5 (1% Li2O cut-off) in the PFS)

- Completed an XRD program on 3,162 lithium ore samples to gain a greater understanding of the lithium mineralogy resulting in an increased in the ratio of higher value Spodumene to Petalite minerals within the orebody

- Increased the Ore Reserve to 26.9 Mt @ 1.31% Li2O and 128 ppm Ta2O5, (15.8 Mt @ 1.34% Li2O and 125 ppm Ta2O5 in the PFS).

- Entered into a conditional, long-term (7 year) Offtake Agreement with Sinomine with a Spodumene and Petalite concentrate formulae based on the price of lithium carbonate imported into China and concentrate prices sold on an FOB Port of Beira basis.

- Increased our understanding of the recently defined Basal and Lower Pegmatites in the southwest of the planned pit area.

This updated data has been incorporated into the project's financial model resulting in a pretax NPV10 of USD 340 Million and an IRR of 77%. The PFS financial model estimates a net revenue of USD 2.6 Billion over a 22-year mine life. Pricing has been increased compared to the PFS reflecting the pricing formulae in the Offtake Agreement, which, consistent with other industry contracts is linked to the lithium carbonate price. The revenue was further improved due to the higher ratio of Spodumene to Petalite mineralisation identified by the XRD work on the orebody resulting in more lithium reporting to the higher value Spodumene concentrate.

Unit operating costs net of tantalum credits average USD 287/t of lithium concentrate. The reduced unit cost compared to the PFS mainly reflects reduced transport costs with the concentrates being sold on a FOB Port of Beira rather than a CFR China port basis.

The estimated Capital Expenditure (including initial working capital) remains the same as the PFS at USD52.5 Million following ongoing discussions with equipment and infrastructure suppliers.

A summary of the key inputs and results are highlighted in the table (see link below).

Below are details of the key variances between PFS and the Updated PFS Study.

MINERAL RESOURCES

The Mineral Resource estimate that formed the basis to the PFS was announced on 14 March 2017. Further drilling after the PFS increased the Mineral Resource estimate (at a 1% Li2O cut-off) to 43.2 Mt or a 24% increase in the resource. The two Mineral Resource estimates are tabled below (see link below) for comparison.

As part of the Mineral Resource estimate programme, 3 162 samples were taken and subject to XRD analysis to determine the lithium mineralogy of the orebodies. At the time of the PFS, limited results were available from assay program. Based on this limited wide spread data, the weighted average ratio of Spodumene to Petalite within the confines of the open pit was estimated to be about 40:60.

With all the XRD data loaded into the geological block model in the 25 October 2017 Mineral Resource estimate, the weighted average ratio of Spodumene to Petalite within the confines of the new open pit was estimated to be 47:53.

This materially impacts the ratio between of lithium concentrate products produced, with more of the higher value Spodumene concentrate being produced.

ORE RESERVES

The increase in the Mineral Resource estimate was a key factor in the increase in the Ore Reserves announced on 6 December 2017 and formed the basis of the Updated PFS. Other positive factors which impacted pit optimisation and design were:

- Reduced transport cost with products sold on an FOB basis

- Increase in the Spodumene concentrate price based on the formula within the seven-year Offtake agreement

All other inputs used in the PFS for the optimisation process remained the same. The optimisation and subsequent pit design increase the Ore Reserve from 15.8 Mt to 26.9 Mt.

METALLURGICAL TEST WORK

Metallurgical test work is ongoing and is not expected to cease even after commissioning. Spirals test work is ongoing and optical sorting is also being considered to further improve on the overall lithia recovery.

CAPITAL COST ESTIMATES

Capital expenditure (CAPEX) estimates have not materially changed since the PFS. The costs have been estimated using firm prices, budget prices, list prices and current industry costs. Ongoing discussions continue with suppliers on pricing to confirm no material change. The capital estimate remains at an accuracy of +/- 25 %.

OPERATING COST ESTIMATES

Operating costs (OPEX) for each of the activities within the project have not substantially varied on a unit basis between the PFS and Updated PFS. The two areas that have changed are:

- Mining as a result of the slight increase in the stripping ratio

- Transport with the lithium concentrates in the Updated PFS being sold on a FOB African port rather than CFR China basis

The latter has a material impact on the overall unit cost of concentrate.

Below is a table (see link below) detailing the difference in unit OPEX between the two studies.

Sales and Pricing

Sales of lithium minerals from the project in the Updated PFS is forecast to average 27 000 tpa LCE in lithium mineral concentrates and approximately 98 000 lb. pa Ta2O5 in tantalite concentrates over the LoM.

The Spodumene and Petalite concentrate prices as with other lithium concentrate contracts have been derived using formulae linked to the lithium carbonate price delivered into China. This is the structure of the seven-year Offtake Agreement between Prospect and Sinomine with lithium concentrate prices based on a FOB Port of Beira Incoterms(R)2010. While current lithium carbonate prices delivered into China are over USD13,500/t reflecting the existing supply/demand dynamics, the Company has taken a conservative view as to long term price for lithium carbonate as additional supply enters the market over the coming years. The long-term lithium carbonate price forecast of USD10,000 equates to price of USD675/t for 6.0% Li2O spodumene concentrate and USD413/t for 4.1% Li2O Petalite concentrate. This compares to current announced pricing of around USD900/t for 6% Li2O spodumene concentrate

While the price of tantalite (Ta2O5) has remained flat at around USD60/lb over a number of years, prices have recently increased with sales up to USD90/lb. The Company has taken a conservative view of pricing and has retained a long-term price of USD60/lb. There is significant value add to the project if prices continue to rise given the low incremental cost of producing tantalum as a by-product of lithium processing.

Environment and Government Approvals

Following completion, submission and review of the Environment Impact Assessment completed by Independent Consultants over Arcadia, the Zimbabwe Environmental Management Agency (EMA) issued EIA Certificate number 8000018391 to the Company. This grants the Company permission to operate in accordance with Part XI of the Environmental Management Act (Chapter 20:27) subject to certain specified terms and conditions that are normal for such an authority.

All local stake holders have been consulted and have agreed to the proposed mine plan and development. In addition, the Zimbabwe Investment Authority (ZIA) issued Investment License Number 003496 to the Company which now provides the Company with access to several fiscal and investment benefits and incentives. It was deemed prudent to separate the Company's gold assets from lithium assets into two separate subsidiary structures, each with their own ZIA license. The Board believes that this structure will offer greater flexibility as to how the Arcadia Lithium Project can be financed and also how the Company finances its gold assets.

The Arcadia project now has all approvals in place, as well as a publicised full support of the Zimbabwe Government, to start mining and construction on site. A ground breaking ceremony involving the President of Zimbabwe is planned for in April 2018.

Previously Reported Information

This report includes information and references that relates to Mineral Resources, Ore Reserves and Pre-feasibility Study which were prepared and first disclosed under the JORC Code (2012). The information is sourced from the following ASX announcements:

- 14 March 2017 Significant Mineral Resource Upgrades - Arcadia Lithium

- 16 March 2017 Replacement Announcement - 14 March 2017

- 03 July 2017 Pre-feasibility Study - Arcadia Lithium Project

- 25 October 2017 Significant Increase in Mineral Resource Estimate - Arcadia

- 27 October 2017 Information to comply with Listing Rule 5.8.1

- 10 November 2017 Offtake and Placement and Framework Agreement with Sinomine

Notes:

1 NPV10 and IRR Calculated after State Royalty (2%), a State lithium minerals tax (5%) and Minerals Marketing Corporation Zimbabwe commission (0.875 %) on gross production, pre tax

2 Cash Operating Costs include all costs associated with producing and shipping Li2O concentrates sold on a FOB Port of Beira Incoterms(R) 2010 basis and are net of byproduct credits from Ta2O5 sales

To view tables and figures, please visit:
http://abnnewswire.net/lnk/4Z30CV51 

Hugh Warner
Prospect Resources Ltd
Executive Chairman
T: +61-413-621-652

Harry Greaves
Prospect Resources Ltd
Executive Director
T: +263-772-144-669
WWW: www.prospectresources.com.au
↧

Cobalt Blue Holdings Limited (ASX:COB) Thackaringa - Significant Mineral Resource Upgrade

March 18, 2018, 5:51 pm
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Cobalt Blue (ASX:COB) is pleased to announce a significant resource upgrade at the Thackaringa Project, located near Broken Hill, NSW. The global Mineral Resource estimate now comprises 72Mt at 852ppm cobalt (Co), 9.3% sulphur (S) & 10% iron (Fe) for 61Kt contained cobalt (at a 500ppm cobalt cut-off) - compared to the June 2017 Mineral Resource estimate (detailed in ASX release of 5 June 2017) the upgrade reflects a 31% increase in total tonnes and a 23% increase in contained cobalt.

KEY POINTS:

- The new Mineral Resource estimate succeeds a substantial resource definition drilling program comprising some 74 holes for approximately 12,500m; the resultant improvement in geological confidence has supported the classification of approximately 72% of the Mineral Resource as Indicated.

- These results reflect the strong conclusion of our CY17 drilling campaign. COB has submitted the draft geological report to our JV partner (Broken Hill Prospecting) and has served formal notice that COB believes it has fulfilled its Stage One JV requirements. Looking forward, COB remains on schedule to deliver a Pre Feasibility Study (PFS) by 30 June 2018 and satisfy obligations under Stage Two of the agreement to secure 70% beneficial interest.

- Thackaringa remains on target to become a world class cobalt project with recent metallurgical testwork highlighting 88% cobalt recoveries from ore to payable product.

- Cobalt Blue remains focussed on completion of a maiden Ore Reserve estimate as part of PFS.

The updated Mineral Resource estimate at Thackaringa is apportioned to the three main deposits as detailed in Table 1 (see link below).

Thackaringa Project Timetable

COB remains on track to complete its PFS study for the Thackaringa Cobalt Project by 30 June 2018 and is pleased by the delivery of the Mineral ('Indicated') Resource upgrade - obligated under Stage One deliverables. Results to date continue to justify proceeding further along the pathway towards commercial development of the Thackaringa Cobalt Project.

The overall company timeline remains as below (see link below).

The Thackaringa district map (see link below) shows the proximity to Broken Hill, the supporting rail and road network, as well as the availability of both power and water utilities to support future production.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/IURF00S7 

Joe Kaderavek
Chief Executive Officer
Cobalt Blue Holdings Limited
Ph: +61-2-9966-5629
Website: www.cobaltblueholdings.com
Email: info@cobaltblueholdings.com
↧
Search

Broken Hill Prospecting Ltd (ASX:BPL) Significant Upgrade for Thackaringa Cobalt Mineral Resource

March 18, 2018, 5:53 pm
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Broken Hill Prospecting Ltd (ASX:BPL) and Cobalt Blue Holdings Ltd (ASX:COB) under the Thackaringa Joint Venture (TJV) today announced a significant resource upgrade at the Thackaringa Cobalt Project, located on BPL'S tenement leases near Broken Hill, NSW.

Thackaringa Cobalt Project

- The global Mineral Resource estimate now comprises:

72Mt at 852ppm Cobalt (Co), 9.3% Sulphur (S) & 10% Iron (Fe) for 61.5Kt contained cobalt (at a 500ppm cobalt cut-off)

- The upgrade comprises a 31% increase in total tonnes and a 23% increase in contained cobalt (now 61,500 tonnes) compared with the June 2017 Mineral Resource estimate. This represents a major step forward in the Project's viability.

- 72% of the updated Mineral Resource is classified as Indicated, which reflects improved geological confidence after a major drilling program comprising 74 holes for approximately 12,500m.

- The Thackaringa Cobalt Project remains on target to become a world-class cobalt producer, with recent metallurgical testwork highlighting 88% cobalt recoveries from ore to high value cobalt sulphate product.

- The TJV remains focussed on completing a maiden Ore Reserve estimate as part of the Preliminary Feasibility Study.

- COB has delivered a notice claiming satisfaction of the TJV Stage 1 Milestones. BPL is carrying out an independent assessment, with particular focus on the new Mineral Resource and claimed expenditures, in order to take a view on compliance with Stage 1. Results of that independent assessment will be advised in due course.

Thackaringa Base & Precious Metals

BPL retains the base and precious metal rights at Thackaringa where recent geological mapping and sampling combined with newly acquired high resolution geophysics has greatly enhanced exploration targeting.

Newly discovered prospects characterised by outcropping quartz gahnite - a key vector for Broken Hill Pb-Zn-Ag style deposits, and rock chip sampling has defined extensive Cu-Pb- Zn-Au-Ag mineralisation.

BPL's Managing Director, Trangie Johnston commented:

"This resource upgrade comes at a time when cobalt prices have been experiencing large gains on world markets, hitting $US88,000 per tonne last week. Both the increase in the cobalt resource size at Thackaringa and the cobalt price combine to make this a valuable and strategic development of global magnitude. It adds significantly to BPL's assets both in terms of our ongoing participation in the JV and the increased potential for future royalty steams. The prospectivity of our Broken Hill leases has been also enhanced by the recent exploration success in identifying further occurrences of Broken Hill style mineralisation."

The updated Mineral Resource estimate at Thackaringa is divided into the three main deposits as detailed in Table 1 (see link below).

Cobalt Blue earn in Milestones

Under the TJV, BPL is the title holder of the tenement leases and COB can earn up to 100% of the Project if it completes a four-stage farm-in by committing $10.9 million project expenditure before 30 June 2020 and paying BPL $7.5 million in cash. BPL will be entitled to receive a 2% net smelter royalty on all cobalt produced from the Thackaringa tenements for the life of mine.

Subject to COB completing Stage 1 milestones, COB has a 51% beneficial interest in the Thackaringa Cobalt Project with BPL retaining a 49% beneficial interest. In order for COB to retain its 51% beneficial interest, key deliverables by 1 April 2018 are a 40Mt Indicated Resource sufficient to support a Pre-feasibility Study to JORC 2012 standard and certain expenditure obligations. A Pre-feasibility Study is due by 30 June 2018 and itself forms part of Stage 2 milestones whereby COB can earn up to 70% beneficial interest.

BPL will conduct an independent review of the Mineral Resource upgrade report from SRK when completed and expenditure obligations to determin COB meeting its obligations under Stage 1 of the TJV. The results of BPL's deliberations will be advised in due course.

Return of value to BPL shareholders

The successful spin-off of COB was completed in February 2017, with investors seeking shares and options exceeding the $10 million maximum being offered. The deal was an important initiative for BPL to realise significant value from its Thackaringa Cobalt Project.

BPL's shareholders received a total of 35 million COB shares as part of the capital restructuring and distribution, which was equivalent to 37 per cent of the IPO issued shares in COB. In addition, those BPL shareholders received an entitlement to a 1:4 issue of COB bonus options (total: 8,750,000 options).

The current value of this distribution is approximately $42M based on COB's current share price for those shareholders that retained COB equity. BPL shareholders that retained COB equities have benefited greatly in this way by the upgrade of the groups cobalt interests.

Thackaringa Base & Precious Metals

Under the terms of the TJV, BPL retains the rights to base and precious metals on the TJV tenements, where it is actively exploring for Broken Hill (Pb-Zn-Ag) style mineralisation.

Recent geological mapping combined with newly acquired high resolution geophysics has greatly enhanced base and precious metal exploration at the Thackaringa Project.

The Broken Hill Group, which hosts the world class Broken Hill Pb-Zn-Ag orebody comprising 300Mt of ore containing 30Mt Pb, 24Mt Zn, 1B oz Ag and 1M oz Au, is widely distributed across the Thackaringa Project with multiple prospects prioritised for further exploration.

Newly discovered prospects characterised by outcropping quartz gahnite - a key vector for Broken Hill Pb-Zn-Ag style deposits has greatly expanded our search for these world class deposits.

Broken Hill Region Expansion

BPL recently lodged three exploration licence applications in the Broken Hill Region, significantly increasing its overall exposure to this world class mineral province and securing a number of underexplored base, precious and industrial mineral prospects. The applications are expected to be granted during the first calendar quarter of 2018.

Apart from the clear potential for base and precious metals in this expanded tenement package, the Board believes that the industrial mineral potential of the Broken Hill Region has been systematically ignored over recent years. A number of large, advanced projects in the area will potentially bring additional and improved infrastructure services and/or generate their own industrial mineral demands, delivering a change to their economic case.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/JY0991Z2 

Broken Hill Prospecting Ltd
Tel: +61-2-9238-1170
Email: info@bhpl.biz
WWW: www.bhpl.biz
↧

Emmerson Resources Limited (ASX:ERM) Update on the Proposed Restructure of the Tennant Creek Mineral Field Joint Venture

March 18, 2018, 6:50 pm
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As announced on 19 February 2018 Emmerson Resources Limited ("Emmerson") (ASX:ERM) (OTCMKTS:EMMRF) has agreed with Evolution Mining Limited (ASX:EVN) (Evolution) to restructure the Tennant Creek Mineral Field Farm-in and Joint Venture Agreement.

A Deed of Variation has been executed, and as announced Emmerson will retain 100% ownership of the majority of the Tennant Creek tenements with Evolution taking ownership of those tenements associated with the Gecko-Goanna-Orlando copper-gold prospects.

As was noted, the restructure would require Emmerson shareholder approval if the ASX deemed that Listing Rule 10.1 applies.

The ASX has now confirmed that Listing Rule 10.1 applies to the restructure and accordingly Emmerson will now seek the shareholder approval necessary to proceed with the restructure. Preparation for this shareholder meeting is in progress and details will dispatched to shareholders as soon as possible. It is currently anticipated that the general meeting of Emmerson shareholders will be held in early May 2018.

Emmerson sees the restructure as a beneficial and logical outcome for both parties and looks forward to shareholder support and quickly finalising the restructure. 

Investor Enquiries:
Mr. Rob Bills
Managing Director & Chief Executive Officer
T: +61-8-9381-7838
www.emmersonresources.com.au
↧
↧

Mandela Golden Hands Collection Sells for US$10 Million at PDAC 2018 Conference

March 18, 2018, 7:16 pm
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The Board of Arbitrade, a new coin and cryptocurrency exchange, has announced it will purchase the Nelson Mandela Golden Hands Collection. Made from 20 lbs, 99.999 of pure gold, it includes 3 life size impressions of Mandela's hands and two others of his palm and fist. It was cast in 2002 by South Africa's Harmony Gold mining group, one of the world's leading gold producers, 12 years after Nelson Mandela was released from prison.

The seller, Malcolm Duncan, a South African businessman now living in Calgary, Canada, knew Mandela. He said that Harmony's intention was to make one full set of gold artefacts consisting of a fist, a full hand and a palm impression of his right hand for each of the 27 years Mandela had spent behind bars. Duncan had purchased the sets dedicated to 1964 and 1990, marking the year Mandela was incarcerated and the year he walked out of the Pollsmoore prison gates a free man.

The set has been authenticated by Harmony Gold and is believed to be the only surviving set. The others, having been destroyed by order of Nelson Mandela.

In making the announcement, Arbitrade's Chairman, Len Schutzman, said the Board of Arbitrade shared Mr. Duncan's deep admiration for Mandela and had been keen to secure the valuable memorabilia. He joined Mr. Duncan in saying Mandela was a man who had come out of prison with no bitterness and although he had very little, he did so much to better the lives of under privileged people.

An agreement was stuck by Mr. Duncan and representatives of Arbitrade at the PDAC 2018 Conference, held in Toronto on March 4 - 8, 2018. "It was the first time the collection had been on display to the general public anywhere in the world since the Letter of Authenticity had been received from Harmony Gold and we felt it was singularly appropriate that we should have met to purchase the collection at the famed PDAC Conference, one of the largest gold and metals events in the world," said Arbitrade's Chairman, Len Schutzman.

"The collection celebrates not only the remarkable contributions of Nelson Mandela to humanity each year, but also all that has been done by South Africa in supporting gold and the mining industry though the years. Moreover, our timing in buying the collection is especially significant since we are celebrating the 100th anniversary of Mandela's birth in this unique way for the first time in North America," said Mr Schutzman, who noted that the purchase of the Mandela collection will be paid for with Bitcoins.

"It is our honor and privilege to celebrate the life and legacy of Nelson Mandela. As President Obama shared in one of his tributes to this great man - Mandela is a man who took history in his hands and bent the arc of the moral universe toward justice. In the global tour we shall be making with the collection, we will be celebrating his life, which has been a gift and a shining light for us all to remember and to follow for ages to come."

"Arbitrade's management felt that these extraordinary artefacts served as a great representation for our company and that our announcement of this wonderful purchase will be the first of a series of announcements we shall be making in regard to gold that will back our cryptocurrency, Dignity (DIG) which trades on Livecoin.net." Mr. Schutzman said, "the company plans on orchestrating a global tour exhibiting the Golden Hands in National Museums around the world to celebrate the life and legacy of a man that meant so much to so many."

In responding to Mr. Schutzman, Deputy Minister of Mineral Resources, Mr. GG Oliphant, MP said," The display and exhibition of the Mandela Golden Hands at the PDAC 2018 Conference was an appropriate moment to reflect the roots, strength and resilience of the South African mining industry. Nelson Mandela was a mineworker at some stage, in his long walk to freedom, and was also later elected as the Honorary Life President of the National Union of Mineworkers in South Africa. It is therefore, within this context that, in his honour, we pay tribute to all mineworkers and ex-mineworkers around the globe who have sacrificed so much to produce gold and other mineral commodities over the years. It is therefore befitting that in this year, as we celebrate the centenary of Mandela's birth, that we could display his actual handprints in gold as an embodiment of lasting peace and prosperity for our country. Our congratulations to Arbitrade in keeping Mandela's legacy alive."

Mr. Nyameko Goso, South Africa's Consul General in Toronto added, "We thank Arbitrade for helping us celebrate Nelson Mandela's 100th Anniversary in this very special way and keeping alive his great legacy. At the same time, the purchase of this remarkable collection made of South African gold, is also a tribute to South Africa's gold mining industry who have contributed so much to the gold market and mining over the many years."

Mr. Schutzman said, Arbitrade will be inviting one person from each of the countries where they will be exhibiting the collection, to join with them in celebrations at the museum, "I urge everyone to be looking out for our special release next week and to click on to our web page and provide their details. We hope that a great many people want to join us and come see for themselves the powerful and inspiring collection." 

Media Contact: 
Victor Webb 
Marston Webb International 
T: (212) 684-6601 
C: (917) 887-0418     
E-mail: marwebint@cs.com
↧

Image Resources NL (ASX:IMA) Mineral Sands Conference - Presentation

March 19, 2018, 3:21 pm
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Image Resources NL (ASX:IMA) (OTCMKTS:IMREF) provides the Company's latest presentation at Mineral Sands Conference.

Investor Snapshot

Opportunity to invest in company transitioning to profitable mining operator

- Company fully funded to positive cashflow

o $50M as debt; $25M as equity

- Project construction underway (only $52M project capital)

- Plant and equipment already acquired

- First production scheduled for 4th QTR 2018 (6-month build)

- Cashflow positive forecast in 1st QTR 2019

- Binding off-take agreement in place for 100% of production

- Project NPV A$197 million; IRR 104%;
o metrics out-of-date on 1 April 2018 due to zircon price rise

- Company market cap. A$61M (15 March 2018)

- Share price $0.10 (15 March 2018)

o Euroz and Patersons 12-month forecast $0.22 and $0.19

Emerging mineral sands producer

Totally focused on fast-tracking the development of its 100%-owned, high-grade, zircon-rich flagship Boonanarring mineral sands project located 80km north of Perth in Western Australia.

First production targeted for 4th QTR 2018.

To view the full presentation, please visit:
http://abnnewswire.net/lnk/HP88STBU 

Patrick Mutz
Managing Director
T: +61-8-9485-2410
E: info@imageres.com.au
www.imageres.com.au
↧

iSignthis Ltd (ASX:ISX) XM.com Expands with Paydentity for China eKYC

March 19, 2018, 3:42 pm
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Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX) (FRA:TA8), the world leading RegTech for identity verification and payment services, is pleased to announce that it has extended the scope of its Paydentity solution to XM.com to include provision of Chinese identity verification services, as a standalone service. Electronic Know Your Customer (eKYC) services have been provided to XM by the Company since beginning of this month.

Highlights:

- Paydentity service deployed to XM.com on a fully commercial basis for Chinese eKYC

- Extends Scope of Paydentity(TM) eKYC from EU+UK to now include China.

The Company is now identifying Chinese, as well as UK and EU based customers, on behalf of various XM trading entities, to meet AML/CFT Know Your Customer (KYC) requirements.

The Company continues to extend its relationship with XM, and to build and grow revenue opportunities for both parties. 

Media: contact@isignthis.com

Investor Relations
Chris Northwood
Activ8Capital
T: +61-458-809-177 
E: cnorthwood@activ8capital.com or investors@isignthis.com
↧
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